Address: 45 Fitzroy Street, Fitzrovia, London, W1T 6EB

Telephone: 0207 164 6876  |  Email: info@regulatorycounsel.co.uk  |  International telephone: 442071646876

Copyright 2019 Compliance Counsel Limited

We focus on our clients' most critical issues and opportunities and bring expertise across licencing, consulting and compliance in payment services and electronic money.

What we do

We are a leading regulatory consulting firm, helping companies to provide payment services and e-money including issuing cards, processing payment, providing e-wallets and prepaid cards across Europe. 

 

We manage the end-to-end licencing process, including compliance, obtaining banking facilities and helping firms with their operational setup so that they can focus on their business.

​At Regulatory Counsel, we spend time and take particular care in understanding our client's business ambitions, business model, people, processes and operations. Our payment and e-money licencing service involves an end-to-end approach, where we prepare all the required policies and procedures, including your business plan, operational procedure, compliance procedures and financial statements.

Contact Us

Contact us to discuss about the payment and e-money services your business wishes to provide. Please complete and submit the form below or alternatively call us on 0207 164  6876 or email us at info@regulatorycounsel.co.uk 

E-money Licence

Formally known as the Electronic Money Institution or EMI licence, with an e-money licence you can provide e-money. Examples of e-money include:

  • Providing prepaid cards

  • Providing e-wallets

 

Provide e-money across the following countries with a single licence:

Austria, Belgium, Bulgaria, Croatia, Cyprus (Republic of), Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the United Kingdom.

The major advantage of an e-money licence is that you can add payment services under the same licence without also having to apply for an additional licence for the payment services. For examples, with an e-money licence, you could issue e-money such as e-wallets but also the below payment services, such as providing debit cards and payment processing.

Additional services you can offer with an E-money (EMI) licence:

  • Providing debit cards to users with the ability to withdraw and deposit cash on the account.

  • Providing a money transfer service, such as TransferWise and Western Union

  • Providing payment processing services, for examples, enabling retailers to accept card payments from their customers

  • Account initiation service – providing a service where a user can view all their banking accounts in one place

  • Payment initiation service – providing a service where users can make account to account payments (outside the scope of card schemes, such as Visa/Mastercard)

Our e-money licencing service covers Europe. Accordingly, we can help you obtain an e-money licence in countries including, Austria, Belgium, Bulgaria, Croatia, Cyprus (Republic of), Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the United Kingdom. As part of our service, we can advise you on the best jurisdiction in which to establish and obtain your e-money licence.

Our People

Our team of regulatory and compliance experts combine their background across multiple sectors, including payment services, electronic money, banking and fintech. Together, they understand the issues faced by our clients and provide a bespoke service.  Our service is expert-led. This means that when you engage with us, you will have direct access to a senior payments expert, usually at director level. Our team combine strong regulatory expertise with commercial acumen. This means that they are able to understand your business in depth and provide solutions built around it, unique to yourself. 

Payment Services Licence

With a payment licence you can provide a number of payment services. These are:

  • Providing debit cards to users with the ability to withdraw and deposit cash on the account.

  • Providing a money transfer service, such as TransferWise and Western Union

  • Providing payment processing services, for examples, enabling retailers to accept card payments from their customers

  • Account initiation service – providing a service where a user can view all their banking accounts in one place

  • Payment initiation service – providing a service where users can make account to account payments (outside the scope of card schemes, such as Visa/Mastercard)

 

Provide payment service across the following countries with a single licence:

Austria, Belgium, Bulgaria, Croatia, Cyprus (Republic of), Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the United Kingdom.

Our payment licencing service covers Europe. Accordingly, we can help you obtain an e-money licence in countries including, Austria, Belgium, Bulgaria, Croatia, Cyprus (Republic of), Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the United Kingdom. As part of our service, we can advise you on the best jurisdiction in which to establish and obtain your payment licence.

How We Can Help

We specialise and focus in payments and e-money. We can help you to obtain your payment or e-money licence, be compliant by helping you with your compliance obligations, and provide support and advice where required. As part of our licencing (authorisation) service, we spend time understanding your plans and ambitions and advise you on the best possible route and strategy.  

In additional to the licence authorisation service, we can assist you with additional services, such as, company formation, ongoing advisory and consulting, accounting, legal, Visa/Mastercard principal membership and operational setup. We offer an end-to-end service, taking responsibility for the entire project, including project planning and preparing all the required documents, such as your regulatory business plan, AML policy and financial statements.

 

Our licencing service includes the following:

  • Guiding you throughout the application preparation stage

  • Managing the entire application from planning to obtaining the licence

  • Preparing, completing and submitting the application form

  • Submitting the individual directorship and shareholding forms

  • Preparing, completing and submitting compliance documents such as the business plan, financial statements, AML procedure, monitoring programme, compliance and risk management.

  • Submitting your application to the financial regulator

  • Assisting you with any correspondence/further questions from the financial regulator after submitting your application until your licence has been granted.

Next Steps

The next step involves us arranging a telephone call or a meeting to discuss your business ambitions and plan. Once we understand the payment and e-money services you wish to provide we can then discuss the best country for your licence and setup. We will also discuss any business and regulatory requirements that you will be required to meet and help guide you through these. Once we have finalised the above we can then proceed with your application. Remember, our service is expert-led and so you will be working with and communicating with a director at all times. 

Contact us to discuss about the payment and e-money services your business wishes to provide. Please complete and submit the form below or alternatively call us on 0207 164  6876 or email us at info@regulatorycounsel.co.uk.